3 Ways to Separate Wants from Needs in a New Home

Looking to buy a new in Calgary? Congratulations it is an exciting times however, you should have some sense of what you are looking for when you are searching for a new home. Separating the differences between needs and wants can be tricky but making seperate list of needs and wants can save you a lot of time and energy in the long run. Here are 3 things to help you distinguish between your needs and wants in real estate:

1. Ask yourself if you truly have to have it.

‘Wants’ are features that would be nice to have in a home but ‘needs’ are things that you must have in your dream home. Can you live without a shiny stainless steel appliances? If yes, then put in the wants column. On the other hand an extra room can be one of your needs if your family is growing.

2. Determine if a feature can be changed or added later.

No matter how ambitious you are, some things may remain beyond your control to change, like proximity to public transportation, or quality of the local school district. If these features are critical to you, they go on the “Needs” list. On the other hand, things like patios and hardwood floors can be added later. List them as “Wants.” Your agent can probably help you talk through potential future costs of renovations and additions to accommodate your wants. Changing the bus routes, on the other hand, is probably beyond the capabilities of even the most experienced Realtor.

3. Talk it through with your real estate agent.

A trusted Realtor can bring a much-needed dose of objectivity to your decision-making. He or she can help you visualize the day-to-day reality of living with (or without) a certain feature, as well as guide you through the math that may help you separate wants from needs.

A Realtor you can trust always goes on the “Needs” list. If you have more questions feel free to contract me.